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FCA Reaches New Heights As Annual DOJ Haul Nears $6B

The U.S. Department of Justice on Thursday announced that it recovered $5.7 billion through False Claims Act litigation in fiscal 2014, a record haul buoyed by exceptionally large penalties against financial institutions as well as continued success policing hospitals, drugmakers and defense contractors.

  • Boston Scientific Slammed With $18.5M Verdict In Mesh Trial

    A West Virginia federal jury on Thursday hit Boston Scientific Corp. with an $18.5 million verdict in the second federal trial over injuries allegedly caused by its pelvic mesh devices, days after the company was slapped with a $26.7 million verdict in Florida over a different pelvic mesh product.

  • Goldman Sachs Denies Metals Market Wrongdoing Before Senate

    Representatives for Goldman Sachs Group Inc. and Metro International Trade Services LLC told members of the Senate Permanent Subcommittee on Investigations on Thursday that the companies haven't improperly benefited from Goldman's purchase of Metro and subsequent activity in the aluminum storage market.

  • Ariz. Says GM Hid Safety Defects In $3B Suit

    The state of Arizona hit General Motors Co. with a $3 billion suit on Wednesday claiming that the car manufacturer had violated the state’s consumer protection laws by allegedly concealing serious safety defects and deliberately endangering the public by valuing cost-cutting over safety.

  • Activision Brass Reach $275M Deal To End Shareholder Action

    The leaders of Activision Blizzard Inc. have agreed to a $275 million settlement of consolidated shareholder derivative and class action litigation over what investors say was a tainted $8.2 billion deal to buy back Vivendi SA's controlling stake, the game maker said Wednesday.

  • Trump Resorts Must Prove Case Shouldn't Become Ch. 7

    A Delaware bankruptcy judge on Wednesday ordered Trump Entertainment Resorts Inc. to show why its Chapter 11 case shouldn't be converted to a Chapter 7 liquidation after agreement over the debtor's disclosure statement, which he indicated a day earlier he would approve, fell apart.